South Africa’s business environment is rapidly transforming, and a large aspect of this transformation process is the role played by Black Economic Empowerment (BEE). This article will, in broad terms, capture the objectives of the legislation and policy behind BEE and touch on some of the issues that challenge foreign investors and local business alike in complying with BEE.
Broad-based black economic empowerment is an integrated and coherent socio-economic process which directly contributes to the economic transformation of South Africa and brings about significant increases in the number of black people that manage, own and control the country’s economy, as well as significant decreases in income inequalities. It was introduced to address the economic inequalities created by apartheid.
